WNY-Student Housing, N.Y., to sell $74.2 million student housing revenue bonds

By Sheri Kasprzak

New York, May 19 - The Kenmore Municipal Housing Authority intends to price $74.2 million in series 2008A student housing revenue bonds during the week of May 19, said a source connected to the sale. The bonds will be sold for WNY-Student Housing LLC.

The bonds (//BBB+) will be sold on a negotiated basis with RBC Capital Markets as the lead manager.

"We expect them to price sometime this week, but we're feeling out the market," said the source familiar with the sale. "No exact date is set."

The bonds will be due July 1, 2039.

Proceeds will be used for the renovation and conversion of an existing multifamily housing project into student housing for colleges and universities in Buffalo, N.Y.

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